Kvě 12

FundYourselfNow Crowdfunding Platform Announces Q1 2018 Launch, ICO Starts June 2, 2017

· May 12, 2017 · 4:00 pm

A new smart contract based crowdfunding platform, FundYourselfNow.com is set to launch in Q1 2018, making its services available to cryptocurrency investors and entrepreneurs. The platform is built with a goal to help the project leaders raise funds in Bitcoin and Ethereum, to back their ideas through various partnerships.

[Note: This is a press release.]


The platform’s mission aligns with the recent trends in the cryptocurrency market which saw a huge rise in ICO investment during 2016. During the period, over $200 million raised across the board. Despite the huge influx of ICO investments, smaller and less technically savvy project leaders are less able to orchestrate such investment vehicles.

FundYourselfNow aims to simplify the crowdfunding process, to give all ‘Project creators’ a chance to receive the necessary funding to establish themselves in the market. FundYourselfNow project creators will be able to create virtual tokens, which will offer unique customized rewards to the investors, which contribute towards the project. The tokens will eventually be eligible to be traded on cryptocurrency market platforms.

FundYourselfNow Crowdfunding Platform Announces Q1 2018 Launch, ICO Starts June 2, 2017

FundYourselfNow is built over Ethereum platform, leveraged by its smart contract capabilities. It has already seen significant developments in terms of inclusion of Bitcoin support via Rootstock and more as the team prepares for the crowdsale.

The Ethereum smart contracts are designed to promote a level of accountability within the crowdfunding ecosystem. The platform has a milestone-based payment option, which allows project investors the ability to withdraw fund, should a project fails to deliver on its targets. This alleviates a large portion of the risk currently faced by investors in most standard cryptocurrency ICO’s.

Hong Kong-listed company, Success dragon International’s CEO Carlos Salas recently lead the seed funding round for FundYourselfNow. Carlos, also an angel investor and accomplished businessman, helped the platform reach their initial funding goal faster than anticipated.

The funds raised through crowdsale will be utilized by FundYourselfNow to continue the platform’s development and offer project creators cryptocurrency-backed funding, through their crowdfunding campaigns.

Pinnacle Digital has acquired Caxton Worldwide Success Limited, in order to assist FundYourselfNow to achieve its own separate legal status. Led by Pinnacle Digital’s team, FundYourselfNow will continue its fundraising and development under the heading of Caxton Worldwide Success Limited. The platform has scheduled its upcoming ICO on June 2nd, 2017, giving investors a chance to support the crowdfunding project from day one.


Images courtesy of FundYourselfNow, Shutterstock

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Led 14

The Blockchain: Decentralized, Secure, and…Romantic?

· January 14, 2017 · 1:00 pm

2,179 views

Block number 448064 on the Bitcoin blockchain contains a cryptic and romantic love letter written in the form of transactions.


You + Me = ฿

The Bitcoin blockchain is known for its immutable and transparent nature, which makes Bitcoin the perfect protocol for the decentralized transfer of value. Transactions are permanent and can not be changed or erased. They are also public for the whole world to see. These same characteristics also make it the perfect place to store records and apparently love letters!

chain-257490_640

Although the Bitcoin blockchain has been used to prove far more formal things like financial records or identities, this time it was used as a proof-of-love. Someone sent out a cryptic message to his better half on block number 448064 in the form of transactions, which can be seen in the image below:

bitcoinist_blockchain_letter2

These transactions spell out:

DayahDover, your personality is unmatched. Your intelligence just shines. You can do things few people can and you are always gorgeous. You are my entire world, giving my life meaning fun. Daya, I love you forever.

Bitcoinist recently covered Julian Assange and the cryptic messages he sent out in October in the form of outgoing transactions sent to vanity addresses. However, these are different, not only in sentiment but also in the sense that they were sent to addresses that are not “valid,” meaning that the sender does not control the other addresses and the bitcoins sent are lost forever. Not to worry, though, as the sum wasn’t too large, about $26.28 USD.

Not the First Time

Yes. This is not the first time the blockchain has been used as a permanent and immutable proof-of-love. ‎Thanks to Bitnation, David Mondrus and Joyce Bayo used the Bitcoin blockchain to register their marriage, which took place at the Disney World Coins in the Kingdom Bitcoin Conference.

CEO at SingularDTV, Zach LeBeau and his wife Kim Jackson have also decided to immortalize their union on the Ethereum blockchain. The couple got married on the 2nd of November at the ConsenSys headquarters in Williamsburg, New York and recorded their vows on the blockchain, while creating their marriage contract on Ethereum.

Kim Jackson said,

I always knew I wouldn’t get married in a traditional way … and this is as original and non-traditional as you can get!I love it and I love being a pioneer with my man.

While this may seem a bit out of reach for the non-tech-savvy, it’s not! Anyone can easily create their marriage contract thanks to Hudson James. He was inspired by a tweet sent out from Joseph Lubin in response to his one-year marriage anniversary.

The tweet read:

The LoveChain

The blockchain is, in fact, the perfect place to make anything permanent, immutable, and public, and thus the best place to leave a romantic mark for your significant other, which will last longer than the good ol’ fashion “heart in a tree” or a padlock on a bridge.

bitcoinist_heart_in_tree

As we’ve seen, it can also be a place to prove a formal union such as a marriage and even to arrange its details. The couple Gaurang Torvekar and Saylee Kaluskar immortalized, not only their union on the blockchain but also their prenuptial agreement, which was written and encoded into a smart contract on the Ethereum blockchain.

The conditions of the contract can be seen on the website created by the couple, which reads:

While talking about blockchains and its endless possibilities, we thought of using it to solve our day to day problems. As we are getting married this December, we immediately thought of a putting our pre-nup on the blockchain as a ‘smart’ solution! So the next time when we have to decide which show to watch on Netflix, this is where we can find the tamper proof, single source of truth- that no coder or a photoshop master can manipulate.

However, Bitcoin can not only be a place to show your love, but it can also be a place to hide it.

Would you consider showing your love on a public blockchain? Let us know in the comments below!


Images courtesy of Shutterstock

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Kvě 17

Bitcoin Is the Original DAO

Source: bitcoin

DAO Bitcoin

Decentralized autonomous organizations have received much attention in recent weeks since Ethereum launched its new Decentralized Autonomous Organization platform, featuring projects such as Slock.it and Digix, among others. Ethereum has chosen to ignore the elephant in the room in its press releases: there’s another DAO. It’s Bitcoin, and it’s the biggest blockchain technology around.

Also read: Everyone’s Favorite Crypto Just Might Scale After All

The First DAO

Ethereum

Bitcoin is undoubtedly an online creation community: an internet based ecosystem of participants who contribute – often in isolation of each other – towards one single stated project or goal. Online creation communities create a robust cross-section of the Internet, and while a quiet phenomenon, they have built, and will continue to build, the Internet of the future.

Bitcoin, based on a distributed protocol that provides financial services based on certain parameters, represents a distributed autonomous organization. Jeff Garzik, early Bitcoin developer, calls Bitcoin the decentralized autonomous organism.

While Ethereum has garnered attention for the DAO concept, it’s true that Bitcoin has existed in a similar form since 2008. And, since then, we have seen it evolve as a decentralized organization and incorporated numerous services. Side chains, a blockchain application interoperable with Bitcoin, offer a promising horizon to extend the Bitcoin protocol’s features.

Although the connection of Bitcoin as a DAO does not grace press releases of projects promoting their products, Ethereum has admitted that “Bitcoin is an interesting case here” and likely constitutes a DAO more than other blockchain organizations. In a May 2014 blog post at Ethereum.org, Vitalik Buterin – co-founder and developer of Ethereum – admits Bitcoin takes the form of a DAO.

Buterin posits Bitcoin, however, is not a perfect DAO. He cites an incident in 2013 when a block was accidentally produced and confirmed by BitcoinQT 0.8 clients. That block was invalid according to the parameters of BitcoinQT 0.7, the previous Bitcoin client. This caused the blockchain to fork, meaning nodes did not know which chain – 0.7 or 0.8 – was the correct one.

Most mining pools had upgraded to BitcoinQt 0.8, so they followed B1, but most users were still on 0.7 and so followed B2,” Buterin writes. “The mining pool operators came together on IRC chat, and agreed to switch their pools” in such a way that meant as little stress for users as possible.  

“Thus,” Buterin proceeds, “in this case, there was a deliberate 51% attack which was seen by the community as legitimate, making Bitcoin a DO rather than a DAO. In most cases, however, this does not happen, so the best way to classify Bitcoin would be as a DAO with an imperfection in its implementation of autonomy.”

Buterin adds that some people do not classify Bitcoin a DAO because the digital currency, founded in 2008 by Satoshi Nakamoto, “is not really smart enough.” Buterin sees the sense in this opinion.  

“Bitcoin does not think,” the Ethereum developer writes. “It does not go out and ‘hire’ people with the exception of the mining protocol, and it follows simple rules the upgrading process for which is more DO-like than DAO-like. People with this view would see a DAO as something that has a large degree of autonomous intelligence of its own. However, the issue with this view is that there must be a distinction made between a DAO and an AA/AI. The distinction here is arguably this: an AI is completely autonomous, whereas a DAO still requires heavy involvement from humans specifically interacting according to a protocol defined by the DAO in order to operate. We can classify DAOs, DOs (and plain old Os), AIs and a fourth category, plain old robots.”


Sources:

ja/satoshi


Images courtesy of Digital City Tickets, Ethereum.

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Bitcoin Is the Original DAO

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Kvě 16

The DAO Becomes The Largest Crowdfund To Date

Source: bitcoin

DAO

The programmable token Ethereum and its blockchain have been breaking the mould ever since its pre-sale was announced back in July of 2014. It launched with its initial sale in September of the same year and raised over $18.3 million USD becoming the sixth largest crowdfund to date. Following the exponential growth of Ethereum, developers who help maintain the community and Ether protocol have created a decentralized autonomous organization called the DAO.  The platform is built to support fund Ether projects and has recently skyrocketed past the Ethereum pre-sale becoming the biggest crowdfund ever raising a whopping $119 million so far.

Also read: Bitcoin Price Stagnates, What Happens Next?

The World is Changing. The Ethereum DAO Hub What is it?

The decentralized autonomous organization known as the DAO is no more than code that runs a structured governance platform. The beginning of this concept is truly mesmerizing to many as it’s one of the first times this type of infrastructure has been built using the Ethereum blockchain. A DAO is not run like your typical company or large corporation and allows the initial steps of decentralized transparency to take hold with this type of organization. The framework behind the DAO was implemented by the Slock.it the team is well known for working with IoT solutions using Ethereum.

For seventeen days now the DAO sale has been growing big and is making headlines all across both crypto-based media outlets and with mainstream news as well. When it approached the landmark $100 million point, the project became one of the most powerful organizational frameworks based on only code. The hub of the DAO is a series of smart contracts constructed on the Ethereum blockchain and anyone who has invested in its native token has voting power within this newly created system. In the corporate world rules are governed by executives, investors and outside entities which are often found to be quite fallible. Without explicit agreements, these operations can falter to the wayside and manipulate the interests of common investors. However with the spawning of the Ethereum-based decentralized autonomous organization its activity, rules, and voting is determined by the contracts written with the Solidity programming language.

Ether the digital fuel that powers the Ethereum network is also used by the DAO for its functions and operations. When someone wants to start a project and fund it through the DAO, it initiates a “Creation Phase” in which all rules are executed by code. The protocol stores the Ether and native DAO tokens within its framework but “requires a ‘Contractor’ to build a product, write code or develop hardware.” All DAO token holders can become a Contractor and submit a new project but it must be approved for it to initiate a smart contract proposal. The projects white paper states:

“Such smart contracts can be parameterized and enable a DAO to interact with and influence the project it chose to support.” — DAO Hub’s White Paper

What Will Decentralized Autonomous Organizations Do For Society?

The implications of the DAO is pretty huge as it’s a very new concept that undermines the need for third party entities. Many facets of society could use this model and it could reinvent the very mechanisms of infrastructure we rely on. Concepts such as newly formed voluntary governance structures based on actual consent and voting of the participants. A DAO like architecture could remove the current oligarchic system run by a small minority of fallible humans and reform it into a framework based on code and self-executed smart contracts. For the most part, contracts make the world operate but are riddled with costly and needless third-party arbitration such as lawyers, accountants, and board members. The father of smart contracts Nick Szabo once said, “I argue that the formalizations of our relationships — especially contracts — provide the blueprint for ideal security.”

Alongside the change of governance corporate entities could also rebrand into a decentralized autonomous organization as well. It would cut costly overhead that comes with hiring attorneys, massive amounts of paperwork, and logistics that can take weeks to settle. The existing system is quite cumbersome and has been for years; with the introduction of a DAO protocol/community society’s idea of hierarchical roles of importance vanish. Blockchain and digital currency enthusiasts are starting to believe the DAO architecture could replace these traditional corporate models. However, it remains to be seen whether or not it actually will work.

The crowdsale is doing very well but the model actually operating and doing what it’s supposed to is another story for the future. It is just the beginning stages of the popularity of the DAO concept taking hold. Other innovators within the digital currency and blockchain space have also been working similar concepts. Projects such as Swarm, BitNation, and Expanse are others who have dabbled with the idea. Some have discussed the idea to great length and some have initiated their own formations of a DAO as well. There are those that feel the project has room for improvements concerning the current and popular Ethereum DAO. Bitcoinist spoke with BitNation’s Susanne Tarkowski Tempelhof and she gave her opinion of the DAO introduced by the Slock.it team saying:

“I’m tremendously excited about the remarkable achievement of The DAO, it sets a successful precedent for all of us to operate in a post-centralisation world where only a few powerful entities, may it be banks, governments, or venture capitalist funds, could tell us how to live and operate. Although much writing and ideas been circulating about it for years, in my opinion, The DAO seems to be the first ones to have brilliantly popularised and implemented it (at least as far as the crowdsale and GUI goes), which is definitively a game changer in this space. When Slock.it first released their code on GitHub, and on various Google doc’s, I jumped on it, like a kid with a new bike, realising it could be a framework for Decentralized Borderless Virtual Nations (BDVNs) – but with some modifications, namely, the removal of democracy. Why remove democracy, one might ask? Isn’t democracy the beacon of all freedom? No, democracy is the rule of the majority, mob rule, stripping away people’s rights —— simply because they happened to be outnumbered. Alexandre Van de Sande, the fantastic MIST developer, and I sat down in January in Rio discussing the pros and cons of a democratic organisations, and how to deploy the Ethereum DAO code in the DBVN context. The rational conclusion to draw from it, is that different organisational types suits different personality types. And that’s the beauty of The DAO. They set a precedent, just like Bitcoin, that everyone can follow, or fork, and make their own. Just like we’re doing with our Virtual Nation, who we hope will operate in compatibility and computability, with The DAO, and the DAOs it will empower. The future is very bright, indeed.” — Susanne Tarkowski Tempelhof Founder & Chief Unicorn of BitNation 

The world is seeing a whole lot of new ideas and concepts such as decentralized autonomous organizations, permissionless cryptocurrencies, and architecture built with smart contracts are growing more popular every day. Society’s norms are changing with each new technological step towards a free market and a DAO is one of these steps. Surely there will be more but Ethereum’s current model is proving to raise eyebrows with its immense funding of capital. Now all that remains is putting the code to the test.

What do you think about decentralized autonomous organizations and the current Ethereum DAO version? Let us know in the comments below.


Images via the DAO Hub website

** Disclaimer the spot price of Ether also will determine if the project continues to hold the #1 crowdfund spot.

 

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Dub 18

Axoni Achieves 100% Success Rate With Blockchain-based CDS

Source: bitcoin

Bitcoinist_CDS

The correlation between blockchain technology and the financial industry is hard to overlook these days. A few weeks ago, several firms – including Axoni – tested the blockchain as a way to use smart contracts for single name credit default swaps. As it turns out, distributed ledgers are far more efficient than most financial players assumed.

Also read: CEX.io Adds Ether Trading Support to Crypto Exchange

Axoni And Others Focus on Blockchain-based CDS

Established financial players have taken a vested interest in distributed ledgers to improve their own day-to-day operations. Four of the world’s biggest institutions – Bank of America, Citi, JP Morgan, and Credit Suisse – recently partook in a trial to see if this technology would hold its own when used for North American single name credit default swaps [CDS].

The trial was made possible thanks to these four players collaborating with the DTCC, Markit, and Axoni. Especially this last name is of great interest, as they are a blockchain technology firm looking to bring the power of distributed ledgers to companies all over the world. Some people may recall Axoni is being advised by Benjamin Lawsky’s blockchain consultancy firm.

Trials of this project took place during Q1 of 2016, and a blockchain-based trade processing network was established successfully. Credit default swap transactions were the primary focus, as they are subject to various events throughout their “existence”. Moreover, CDS lend themselves well towards determining whether or not the blockchain is efficient enough to handle all of the input and output of these swaps.

Markit’s head of Processing division Brad Levy told the media:

“This collaboration in CDS illustrates how smart contracts can facilitate higher levels of automation in OTC markets. The success of this initiative reinforces our commitment to continued development of blockchain technology in CDS, other asset classes and financial industry processes more generally.”

Smart contracts played an integral role in this blockchain trial, as Markit generated the contracts from CDS trade confirmations. In return, this process allowed for creating a synchronized and distributed record on the network, containing all of the financial data associated with these financial instruments.

As one would come to expect, these Axoni smart contracts were tested thoroughly, as they included economic terms, event processing, and a way to manage permissions. The blockchain allows for unprecedented transparency, and that aspect was showcased by seeing how much information these contracts would make available to regulators in real-time.

So far, it seems as if all of these parties took a smart decision by relying on Axoni for these field trials. Even though a total of 85 different test cases were drafted and tested through blockchain technology, none of them failed. A 100% success rate is quite noteworthy, although there is no official word on whether or not there are specific plans to continue these experiments in the future.

What are your thoughts on financial players getting together with Axoni for these blockchain tests? Let us know in the comments below!

Source: Chain-Finance

Images courtesy of Axoni, Shutterstock

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Úno 22

Expanse dApps Project Soars to New Heights

Source: bitcoin

Expanse

The Expanse Project is a decentralized applications blockchain project that “enables a stable, borderless technology future featuring a flexible DAO, powerful dApp tools and community collaboration. Recently, Expanse released its 2016 roadmap, detailing its plans for new features and innovations. Additionally, Expanse trading volume soared to record highs on the Poloniex exchange, surpassing $2.7 million in trading.

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the companies Bitcoin PR Buzz represents and is not responsible for the products and/or services of the companies represented by Bitcoin PR Buzz. 

Expanse: Decentralize Everything

Expanse prides itself on its decentralization, stressing that no single individual or group controls the platform. Instead, Expanse users themselves control the project through the use of smart contracts and blockchain technology. Any changes within the Expanse ecosystem are voted on by the users, “including new features, integration and core modifications of the Expanse platform.” Any and all changes are implemented “according to the collective opinion of the community.

Currently, the Project’s developers want to stress Expanse’s applications to “borderless governance services.” With smart contracts and blockchain recording, this platform can provide “rights management, notary, marriage registry and contract directories.”

The desire to decentralize government services has led the Project to grow into a large community. Lead Developer Christopher Franko said, “Expanse grew from a small team with a powerful idea into a complex, self-contained community. You can think of it as a decentralized, global political system without borders.”

The development team stresses the fact that any kind of organization can use the Project’s tools to integrate the power of the blockchain into their businesses or causes. According to the team, “businesses, charities, organizations, and even governments can use Expanse’s array of organizational tools to leverage and utilize the massive power of smart contracts on the blockchain.”

Project Manager and Co-Developer Dan Conway added to this statement, saying that, “we are developing several dApps and toolkits to make use of these features as easy and intuitive as possible. Whether a legacy organization. . .or an entirely new decentralized autonomous company living on the blockchain, Expanse facilitates bringing your organization into the distributed era.”

This Project relies heavily on community involvement, rather than the work of the small team of main developers. Franko urged people to learn about the Project and contribute to its progress, saying, “we very much believe in the borderless technology, community cooperation and open source projects provided by the Expanse platform. If you are curious about Expanse, please join our Slack.com team and get involved.

Among other features, the Project’s main developers will release a “newly enhanced” GUI wallet in the second quarter of 2016.

About Expanse:

To learn more about Expanse, please go to h, join the team chat at h, read the blog at, or visit the Facebook page at

Anyone can also follow Expanse on and

To trade Expanse with Bitcoin please go to:

About Borderless.tech

For more information about Borderless.tech, visit www.borderless.tech.

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Úno 02

Ethereum Drives First Decentralized Ad Platform: Etherboard

Source: bitcoin

Etherboard

February 1, 2016 – etherboard.io launches the first smart-contract driven ad-space, in a proof of concept similar to the million dollar homepage. The board allows anyone to pay Ether for pixels on the 1000×1000 area, as well as replace old changes at a premium. This development could make running individual ad-space much more profitable.

Also Read: Synthetic Cannabis Proliferates on the Dark Web

Etherboard Is A Simple Smart Contract

At first glance Etherboard seems like a cool gimmick using Ethereum, a cryptocurrency that’s been gaining a lot of notoriety in the past few months. As it stands, though, the current advertising market is heavily centralized with brokerage fees on server and provider sides. The Etherboard is completely peer-to-peer, cutting down the process to a direct transaction without intermediaries.  A generalized implementation for smart contract advertising could disrupt the entire market if it shows similar efficacy and adopts standard ad serving practices. Furthermore, It enables smaller businesses and individuals to get their name out by providing a platform where lower-priced alternatives are severely lacking.

Etherboard works as follows: you start an Etherboard contract instance using geth or a GUI frontend, then send commands through the contract to set a space to the desired image with x,y, and hex RGB color values. Each pixel change charges you a small amount of ethereum, depending on how many times that pixel has been used. This is all achieved with around 150 lines of code. The contract is open and posted on the site, so peer auditing is a given. This style of doing business is easier to govern for programmers than lawyers, and is more accessible to anyone with an interest in doing business with the smart-contract’s creator.

What Etherboard truly showcases, however, is the power of smart contract applications. They can streamline complex processes that take time, energy and manpower to the point of being trivially simple, while removing room for user error. The decentralized nature of smart-contracts enable the individual in places usually bogged down by lawyers, brokers, and payment processors to conduct business in a way never before possible for a small first party. Expect to see more surface applications for smart contracts in areas of the web dominated by centralized services and large corporations (looking at you Google.)

What applications do you see coming to smart-contract development? Be sure to let us know in the comments!


Images courtesy of Wikimedia Commons, etherboard.io

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Ethereum Drives First Decentralized Ad Platform: Etherboard

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